BH Live Agrees To a 15 Year Partnership with EuroSite Power
On-Site Utility™ Solution To Provide Instant Savings
Monday June 29th 2015
WALTHAM, Mass. – June 29, 2015 – EuroSite Power Inc., (OTCQB: EUSP) an On-Site Utility™ solutions provider, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and leisure centres in the United Kingdom (UK) and Europe, has signed an agreement worth approximately £2.26 (US$3.62) million with BH Live for a solution at Littledown Centre, Bournemouth, UK.
Under the terms of the 15-year agreement, a highly efficient combined heat and power (CHP) system will be installed, owned and operated by EuroSite Power at the leisure centre. The centre will then buy the energy produced by the system at a guaranteed lower rate than available directly from the grid. Estimated savings for the customer are in excess of £40,000 (US$64,000) per year, with no capital outlay or maintenance costs.
The 200 kWe CHP system will produce up to 2,643,795 kWh of total energy per annum, while saving up to 376 tonnes of CO2 – equivalent to taking 79 cars off the road each year. The new contract brings EuroSite’s portfolio of systems to 35 with a value to the company of £61.20 million (US$99.15) from units totaling 3666 kW electrical capacity.
Littledown Centre is one of five leisure centres operated by BH Live, a social enterprise and leading operator of leisure and event venues in the south of England. Peter Portnoi, BH Live Head of Facilities Management says, “Maintaining control of energy consumption and managing cost is very important for the efficient running of Littledown Centre which has over 1.5 million customer visits a year. As a social enterprise, every surplus pound we make is invested back into our services; so we were looking to reduce our utility expenditure to create more surplus and improve our green credentials. With zero upfront costs, the EuroSite Power solution provides immediate, guaranteed, risk-free savings and their significant leisure industry experience means we can be confident they will deliver the very best solution for our requirements.”
Paul Hamblyn, Managing Director of EuroSite Power, said: “We are very pleased to announce the signing of this agreement. With a total of 14 leisure centres in the UK, we are making significant progress ensuring sports and leisure facility customers around the country can enjoy on-going, risk-free, cheaper energy.”